Frank T. Caprio

Some Lesser Known Facts About Frank T. Caprio

• Frank T. Caprio is an American banker, lawyer, and politician. A member of the Democratic party, he served as the 29th General Treasurer of Rhode Island from 2007 to 2011. He is the eldest son of former Chief Judge of the Municipal Court of Providence Frank Caprio, who is known for the TV show Caught in Providence.

• He spent his early childhood in the Federal Hill Neighborhood in Providence.

• His brother, David Caprio, served as a member of the Rhode Island House of Representatives from District 47 (1999 -2003) and District 34 (2003-2011). His sister, Marissa Caprio Pesce, was married to John R. Pesce, who died in February 2018.

• He participated in an exhibition game in 1987 where he competed against American baseball pitcher Roger Clemens and was scouted by the renowned Boston Red Sox figure, Ted Williams.

• At 21, Frank was elected a delegate from Rhode Island’s Congressional District 2 while he was a senior student at Harvard. He was in law school when he won a seat in the Rhode Island House of Representatives for District 14 in Providence. He skillfully managed the dual responsibilities of being a state representative and a law student, commuting by train between his classes in Boston in the morning and legislative sessions in Providence in the afternoons. He also attended the 1988 Democratic National Convention in Atlanta.

• He spent the following 12 years serving in the Rhode Island Senate during which he served as the Chairperson of the Senate Finance Committee (2001–2002).

• In 2001, Caprio played a significant part in preventing the governor from eliminating a vital $5 million yearly program for affordable housing. Afterwards, he proposed and successfully implemented a plan to increase the original $5 million budget to $10 million by utilizing an affordable housing bond. Additionally, in 2006, he collaborated with other legislators to raise the yearly $10 million bond to a significant $50 million fund for affordable housing. This proposal gained approval from voters in 2006.

• In 1991, he passed the bar exams and became a Member of RI and Massachusetts State and Federal Bars. As a lawyer, Caprio specialized in legal matters related to corporations, taxation, and finance. He has worked as an in-house counsel at Cookson Group plc, a publicly-traded company listed on the London Stock Exchange.

• Caprio was also one of the first candidates in the United States to employ On-Demand Television for his political campaign. His TV documentary, “Caprio, the Biography,” was accessible for free to Rhode Island residents through Cox Communications’ On-Demand service. Additionally, He also launched one of the country’s first campaign internet TV channels. Both his website and television advertisements received awards.

• In 2009, he was inducted as a Member of Bishop Hendricken Sports Hall of Fame.

• He lost the 2010 Rhode Island gubernatorial elections to the Independent candidate Lincoln Chafee. Upon discovering that President Barack Obama wouldn’t offer his endorsement for the gubernatorial elections, Frank expressed his frustration by stating on WPRO-AM radio that President Barack Obama could “shove it” for not endorsing him during the elections. These remarks were viewed as disrespectful by many. It was suggested that Obama’s decision not to endorse Caprio might have been a show of respect for Lincoln Chafee, the Independent candidate who had endorsed Obama in the 2008 election. Following this, President Bill Clinton conducted a campaign in Rhode Island for Frank.

  

• In 2011, he assumed the role of Limited Partner at Chatham Capital, a mezzanine finance company with offices in Atlanta, Dallas, and Providence. Subsequently, he was appointed as the Managing Director of Chatham Capital.

• He runs the Caprio Law Firm, in partnership with his father, Frank Caprio, and his brother David Caprio.

• He lost the 2014 elections as the Democratic nomination for General Treasurer to first-time candidate Seth Magaziner.

  

• In 2017, he started working as a part-time Adjunct Professor of Finance at Providence College School of Business.

• He became a Founding Partner in the investment management film Caprio Brothers in January 2020.

• In 2022, Bishop Hendricken High School gave an honorary degree to Frank Caprio, which was presented to him by Frank T. and David Caprio, alumni of Bishop Hendricken.